Fulgent Genetics, Inc. (FLGT) Revenue History
Annual and quarterly revenue from 2014 to present
FLGT Revenue Over Time (2014–2025)
FLGT Revenue Growth History
8 of 11 years with positive growth- FY2014 revenue growth
- N/A
- FY2015 revenue growth
- +649.3%
- FY2016 revenue growth
- +90.9%
- FY2017 revenue growth
- +2.5%
- FY2018 revenue growth
- +14.0%
- FY2019 revenue growth
- +52.3%
- FY2020 revenue growth
- +1196.5%
- FY2021 revenue growth
- +135.4%
- FY2022 revenue growth
- -37.6%
- FY2023 revenue growth
- -53.3%
- FY2024 revenue growth
- -2.0%
- FY2025 revenue growth
- +13.8%
| Quarter | Revenue | YoY |
|---|---|---|
| Q1 2026 | $71.1M | -3.2% |
| Q4 2025 | $83.3M | +9.3% |
| Q3 2025 | $84.1M | +17.2% |
| Q2 2025 | $81.8M | +15.2% |
| Q1 2025 | $73.5M | +13.9% |
| Q4 2024 | $76.2M | +8.1% |
| Q3 2024 | $71.7M | -15.3% |
| Q2 2024 | $71.0M | +4.7% |
Multi-year avg. share of annual revenue by fiscal quarter
Revenue Breakdown (FY 2025)
FLGT's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
By Geography
FLGT Revenue Analysis (2014–2025)
Current Revenue & Growth
As of July 8, 2026, Fulgent Genetics, Inc. (FLGT) generated trailing twelve-month (TTM) revenue of $320.3 million, reflecting slight decline in growth of -3.2% year-over-year. The most recent quarter (Q1 2026) recorded $71.1 million in revenue, down 14.6% sequentially.
Historical Growth Trajectory
FLGT's 5-year compound annual growth rate (CAGR) stands at -5.2%, indicating revenue contraction over this period. The 3-year CAGR of -19.5% is below the 5-year average, signalling a growth deceleration in recent years. Fulgent Genetics, Inc.'s highest annual revenue of $992.6 million was recorded in 2021.
Revenue by Segment
FLGT's revenue is primarily driven by Laboratory Services (100%). With over half of revenue concentrated in Laboratory Services, the company has a focused business model while developing other growth vectors.
Peer Comparison
Compared to Healthcare sector peers — including NTRA (+36.6% YoY), EXAS (+17.7% YoY), and PACB (+5.0% YoY) — FLGT has underperformed the peer group in revenue growth. Compare FLGT vs NTRA →
FLGT Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| FLGTCurrent | $320M | -3.2% | -5.2% | -28.2% | |
 NTRA | $2.3B | +36.6% | +42.6% | -13.4% | |
 EXAS | $3.2B | +17.7% | +16.8% | -6.4% | |
 PACB | $160M | +5.0% | +15.2% | -348.5% | |
 LH | $14.0B | +7.3% | -0.0% | 10.9% | |
 DGX | $11.0B | +11.0% | +3.2% | 14.5% |
FLGT Historical Revenue Data (2014–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $322.7M | +13.8% | $130.9M | 40.6% | $-91,096,000 | -28.2% |
| 2024 | $283.5M | -2.0% | $107.2M | 37.8% | $-73,918,000 | -26.1% |
| 2023 | $289.2M | -53.3% | $104.5M | 36.1% | $-195,529,000 | -67.6% |
| 2022 | $619.0M | -37.6% | $366.9M | 59.3% | $178.5M | 28.8% |
| 2021 | $992.6M | +135.4% | $777.1M | 78.3% | $676.0M | 68.1% |
| 2020 | $421.7M | +1196.5% | $331.9M | 78.7% | $290.2M | 68.8% |
| 2019 | $32.5M | +52.3% | $18.4M | 56.6% | $-428,000 | -1.3% |
| 2018 | $21.4M | +14.0% | $10.7M | 49.9% | $-5,070,000 | -23.7% |
| 2017 | $18.7M | +2.5% | $10.2M | 54.3% | $-3,482,000 | -18.6% |
| 2016 | $18.3M | +90.9% | $11.6M | 63.2% | $919K | 5.0% |
| 2015 | $9.6M | +649.3% | $4.5M | 47.1% | $-5,012,000 | -52.3% |
| 2014 | $1.3M | - | $342K | 26.8% | $-990,000 | -77.5% |
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
12+ years return with dividends reinvested.
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Peer Comparison
Compare growth, multiples, and margins vs sector.
FLGT — Frequently Asked Questions
Quick answers to the most common questions about buying FLGT stock.
Is FLGT's revenue growth accelerating or slowing?
FLGT revenue growth is slowing. TTM revenue is $320M, up -3.2% year-over-year — below the 5-year CAGR of -5.2%. The deceleration suggests maturing end-markets or increased competition.
What is FLGT's revenue history from 2014 to 2026?
Fulgent Genetics, Inc. (FLGT) revenue history spans 2014 to 2026. TTM revenue as of 2026 is $320M, growing at -3.2% YoY. The 5-year CAGR is -5.2%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is FLGT's long-term revenue growth rate (CAGR)?
Fulgent Genetics, Inc.'s 5-year revenue CAGR of -5.2% reflects the variable nature of its business expansion. As of 2026, the current YoY growth rate of -3.2% is below this long-term average. CAGR is the most reliable measure of sustained revenue momentum for FLGT.
Why does FLGT's quarterly revenue fluctuate?
FLGT quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. Fulgent Genetics, Inc.'s revenue data from 2014 to 2026 shows full historical quarterly detail on this page.
How is FLGT's revenue distributed by segment?
FLGT reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does FLGT's revenue compare to industry peers?
Fulgent Genetics, Inc. (FLGT) with TTM revenue of $320M and -3.2% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.